The Secret to Buying a New Luxury HomeDecember 20, 2012
There’s an old secret to buying a new luxury home that Realtors® have known for years. Don’t buy the most expensive property in the community. This secret is a tactic that’s been tested and proven over time, and if you follow it while shopping for your dream home, you’ll be investing in both your home and your future possibilities for its resale value. While it’s appealing to buy a home in a well-established community full of modern homes and meticulously maintained lawns, what happens to that neighborhood in a soft market? What would the ramifications be for your home, valued highest in the neighborhood, is suddenly flanked on all sides by a slew of lesser-valued homes? What happens is this: your perfectly maintained home will be undermined, despite its state-of-the-art amenities, its sleek, modern kitchen and its impressive whirlpool tubs.
Your ability to sell your home will be compromised by its proximity to a number of lesser-priced homes
, while those same homes will benefit from their proximity to your home. In a market evaluation, this phenomenon is called the negative effect. As a home buyer, it’s incredibly important to be informed and educated in home value trends and the real estate market, especially in light of the turbulence of recent years. Every home is an investment, so make sure you engage the services of a professional Realtor® to help you make an informed, well- planned decision and don’t forget to keep the secret of successful buying in mind as your tour your potential dream home.